Business News

Open Text and Captaris merger completed

Monday 03. November 2008 - Open Text Corporation (NASDAQ:OTEX)(NASDAQ:TSX:)(NASDAQ:OTC) a global leader in Enterprise Content Management (ECM), and Captaris, Inc. (NASDAQ:CAPA), a leading provider of software products that automate document-centric processes, today announced the completion of the merger of Captaris with a wholly-owned subsidiary of Open Text Inc.

The merger was approved by the shareholders of Captaris at a special meeting held earlier today. As a result of the merger, Captaris became a privately-held company, wholly-owned by Open Text and its subsidiaries.

“With the merger now complete, we are in an excellent position to take advantage of the opportunities that lie before us as a combined company,” said John Shackleton, President and Chief Executive Officer at Open Text. “Captaris strengthens our position as the ECM market’s independent leader and broadens the suite of solutions we offer that integrate with SAP, Microsoft and Oracle, our three strategic partners.”

Shares of Captaris’s common stock, which prior to the merger traded on the Nasdaq Global Market under the symbol “CAPA,” are in the process of being delisted from trading.